motilal verma


{ City } new delhi
< Country > india
* Profession * accounts
User No # 22704
Total Questions Posted # 45
Total Answers Posted # 29

Total Answers Posted for My Questions # 214
Total Views for My Questions # 965457

Users Marked my Answers as Correct # 460
Users Marked my Answers as Wrong # 155
Answers / { motilal verma }

Question { 4094 }

i am work partnership firm in Uttrakhand. one of our
branch established in haryana.and our branch give raw
material to another parti in haryana.and same parti supply
semifinished component to our branch(uttrakhand). mentain
excise duty & c.s.t in bill.and we enter these bill in
purchase A/c.instead of job work expenses. so question is
that can we able to deduct T.D.S ON these bill.pls explain
me in which section we deduct t.d.s. if not, why.


Answer

for deducting tax it is necessary that the invoice should
containts with service tax. for tengible purchase you can
not deduct tax.your querry is deducting tds for purchase .
See you invoice is contains with service tax , if sevice
tax is not charge then no need to deduct tds

Is This Answer Correct ?    2 Yes 0 No

Question { 33508 }

Should purchase of Hard Disk and DVD be capitalised?


Answer

you can not captalised you will have to journalise in
Repairs and maintence (Computers).

Is This Answer Correct ?    5 Yes 13 No


Question { Indian Railways, 28692 }

how can we copy and paste an whole entry in tally9?


Answer

Dear,

Take back-up(for how can we copy)of company and restore it ,

it will show all entry . no need to take one by one copy paste

Is This Answer Correct ?    2 Yes 12 No

Question { 8407 }

i have received bill from civil work contractor in that
they
charges Service tax & vat on same amount & .Please clarify


Answer

yes. service tax is for service which they provide to you
and vat is WCT(works contract Tax)is for state,

Is This Answer Correct ?    8 Yes 1 No

Question { 5685 }

Sir,
I am using Tally ERP 9 licensed. Company year 2012-2013.
but dispaly in tally last date of entry 25.9.2021 pls help
me sir...
anandhi0701@yahoo.com


Answer

Go pls Gateway of tally(i.e first page) press Alt-f2 and
fill date 01.04.2012 to 31.03.2021 then correct the entry
according to your date then again go gateway of tally press
ALt-f2 and change date 01.04.2012 to 31.03.2013.

Is This Answer Correct ?    8 Yes 1 No

Question { 6068 }

why we used D1, C4 & C form ? pl. ans me in detail.


Answer

C4 form is a certificate that The Vat which is collected by
the pary is deposited.

D1 form is a used for purchaser which means the purchase
material will be used for manufacturing, packing.

cform is a form for interstate sales for Registered dealer
for CST-2%

Is This Answer Correct ?    7 Yes 3 No

Question { 2572 }

As a Manufacturer we are paying service Tax on Inwards freight
and the same amount we are taking as a credit against payment
of Excise duty. So,Pls clarify how to pass JV


Answer

Freight A/c dr 1000.00
service tax liablity(GTA) dr--31.00
To Service tax payable(GTA)--31.00
to Transporter A/c. 1000.00


On payment of Service tax:-

Service tax payable A/c Dr 31.00
Service tax credit Taken Dr 31.00
to service tax liablity(GTA) 31.00
To BAnk A/c 31.00

Verma_moti@yahoo.co.in

Is This Answer Correct ?    2 Yes 0 No

Question { Carlton, 4235 }

Ours is a SSI unit manufacturing Leather Footwear In
himachal Pradesh . We send the Some Material for JOb Work in
other state like pujnab, Haryana , and last finishing done
at our end , are job worker required to pay service excise
duty or service tax or other any taxes


Answer

For jobwork you have to use Aneexure 158-II form(Jobwork
form) with delivery challan for sending material and the
material must be back in the factory with in six month other
wise Excise duty will be charged.

Is This Answer Correct ?    1 Yes 0 No

Question { 3143 }

we are the manufacture of leather shoes, we send the shoe sample to some parties , can it we shown in RG1 Register , if shown then , where ? if not then why ?


Answer

WE must have to show RG-1 , because the goods which is send
as sample ; which we have to prepare an invoice for
sample. The amount mention in invoice is according to
Finished product removal with charging Excise Tax . because
we can not send finished product out side of premises with
out invoice .

Is This Answer Correct ?    0 Yes 0 No

Question { Advanced Bolting Solutions, 4251 }

i want to purchase a machinary for company use, i want to
purchase it from other state is c form applicable for that


Answer

If Machinery is purchase for production purpose then you can
use / purchase against form "C" other wise you can not
issue C form

Is This Answer Correct ?    8 Yes 1 No

Question { ACPL, 8296 }

How to calculate TDS on Directors Remuneration if director's
age is around 35 years and salary is 59000/- per month.
please suggest me with complete detail.


Answer

Deduct 10% Sec-194j

Is This Answer Correct ?    19 Yes 7 No

Question { Cap Gemini, 5704 }

What is difference between Accrual and Provision,provide me
with an example.


Answer

Accrual means Income that is to be earn to current
financial year but received AFTER Financial year it always
concern with income whereas Provision is always concern with
liablities and its means is bill will be received AFTER
FINANCIAL Yr but Exp will be for Current financial year.

Is This Answer Correct ?    8 Yes 0 No

Question { IBM, 6452 }

please give a journal entry for purchase order


Answer

Purchase order is not a Transaction in accounting, it is a
process for confirmation of purchasing that after receiving
goods you can no deny for purchasing.

so, There is no entry for purchase-order.

Is This Answer Correct ?    37 Yes 0 No

Question { Genpact, 7025 }

what is the meaning of provision for taxation


Answer

The Estimated tax is to be deposit for current financial year.
This Income tax is on the basis of Estimation basis because
we can not calculate exact Income tax in the last day of
Financial year. for finalisation of Balance sheet we have to
provide the amount of Income tax . This amount is to be
shonw for provision for Taxation . This is the liablity of
next FY.

Is This Answer Correct ?    6 Yes 0 No

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